Nigeria’s cashew industry could generate more than ten billion dollars in annual revenue and create over fifty million jobs if properly developed, according to the President of the National Cashew Association of Nigeria, Dr Ojo Joseph Ajanaku.
He spoke in Abuja on Wednesday during a press briefing to mark the maiden National Cashew Day celebration. Dr Ajanaku also announced that the 2026 National Cashew Day Conference will hold in Abuja to enable direct engagement with the federal government and other key stakeholders.
Dr Ajanaku said Nigeria remains far below its potential in the global cashew market, despite having about ninety-two million hectares of arable land. He noted that the country trails Ivory Coast, which has about thirty-two million hectares, and called for a national cashew policy that reflects Nigeria’s interests and promotes local ownership of the industry.
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He said Nigeria currently produces between four hundred thousand and five hundred thousand metric tonnes of cashew annually, generating about seven hundred million dollars. According to him, increasing production to two million tonnes and prioritising local processing would significantly boost earnings and create jobs, especially in rural communities.
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